Raising Money for Used Merchandise Stores

With these bank loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $176,000 was given to a California entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Ridgecrest, California was able to borrow $176,000 from Altaone Fcu. The SBA made the loan possible by guaranteeing $132,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
RIDGECREST, CA 93555

SBA Loan Lender

ALTAONE FCU
701 S CHINA LAKE BLVD
RIDGECREST, CA 93555

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

3/4/2005

Loan Approval Gross Amount

$176,000

Loan Approval from the SBA

Of the total $176,000 loan amount, the SBA guaranteed $132,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Altaone Fcu and they will explain how you can get an SBA loan for your company.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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Small Bank Loans in Ridgecrest, California

SBA California Banks